The NEW Re-finance change

So the new plan is to refinance the old mortgages into new LOWER interest mortgages and save BIG TIME!!! It’s all money right in the taxpayers pocket..

I know this sounds like the old refinance deal that created all the “cancerous” “toxic” and “bad” paper that IS the current problem, but I’m sure even with the same numbers rolling over at a lower interest rate it will all even out.

The inflated market prices will be “re-absorbed” into the new “debt structure”….

...Oh well maybe it is the same.

Even if the interest is ZERO everyone knows the prices are inflated and the properties (as well as our dollars) are worth only a fraction of what the banks want to finance them for.

We just can't keep financing the bad debt without jobs.

I hear G.M. is going to be selling off many classic cars in an effort to raise cash. I wonder if Jay Leno would be financing any G.M. classic car purchases.